Dharmaj Crop Guard Ltd. · NSE:DHARMAJ
Dharmaj Crop Guard — Q4 FY2025 Earnings Presentation
37 slides from Dharmaj Crop Guard's earnings presentation, May 2025
Slide 1: Limitless Growth
Limitless Growth Dharmaj Crop Guard Limited Q 4 & FY2 5 EARNI NGS PRESENTATION | M AY 2 02 5
Slide 2: Inside this section
Inside this section Quarterly Performance Introduction Unique Business 02-06 07 14 Highlights to Dharmaj Model Positioning Key Annual Financial 30 32 Takeaways Highlights
Slide 3: Performance Highlights (Q4)
3 Performance Highlights (Q4) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Financial Highlights Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin (₹ Mn) (₹ Mn & %) (₹ Mn & %) 14 % 1% YOY Growth 95 12 % YOY Growth -1% YOY Growth 2,099 12 10 % -3% 1
Slide 4: Performance Highlights (FY25)
4 Performance Highlights (FY25) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Financial Highlights Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin (₹ Mn) (₹ Mn & %) (₹ Mn & %) 10% 11 % YOY Growth YOY Growth YOY Growth 9,510 10 % 348 748 9% 7% 6,5
Slide 5: Profit & Loss Summary (Q4 & FY25)
05 Profit & Loss Summary (Q4 & FY25) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 (₹ Mn) PARTI CUL ARS Q 4FY 24 Q 3FY 25 Q 4FY 25 YOY CH ANG E F Y24 F Y25 YOY CH ANG E Revenue from Operations 1,161 1,745 2,099 81% 6,541 9,510 45% Total Income 1,162 1,745 2,114
Slide 6: Management Commentary
6 Management Commentary Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 “Dh armaj ha s con tinue d to de mon strate n otable gro wth W hile th e top-lin e growth h as be en encouragin g, the am id a ch alle nging y ear f or the agro chem ica l industry. bene fits
Slide 7: Inside this section
Inside this section Quarterly Performance Introduction Unique Business 02 07-13 14 Highlights to Dharmaj Model Positioning Key Annual Financial 30 32 Takeaways Highlights
Slide 8: Executive Summary
08 Executive Summary Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 One of the fastest growing Capital efficient Recent Reaching a Well-capitalized Agile and agrochemicals player business model backward meaningful financial structure growth- 37% 5Y Revenue CAGR 2
Slide 9: Company Overview
09 Company Overview Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Organisational goal set by founding Incorporated in 2015 by Operations across team during incorporation multi-decade experienced industry professionals agrochemicals value-chain, (1 st gen. prom o
Slide 10: Company in Numbers
10 Company in Numbers Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Manufacturing Product Domestic Presence Institutional Base Others Infrastructure Registrations 17,000+ Retail touchpoi nts 700+ Customer base 8,000 MT Tec hnical & Intermedia tes 590 Total Produ
Slide 11: Dharmaj's First Decade
11 Dharmaj's First Decade Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Establish Build Expand 2015-17 2018-21 2022 onwards Incorporate, Build Assets & Processes. Expand Formulations Business. Begin Move Achieve Pan-India Scale in Branded Business. Focus on B2B
Slide 12: Board of Directors
12 Board of Directors Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 25+ years of average promoter and management expertise Mr. Rameshbhai Mr. Jamankumar Mr. Jagdishbhai Mr. Dipak Mr. Bhaveshkumar Ms. Amisha Ravajibhai Talavia Hansarajbhai Talavia Ravjibhai Saval
Slide 13: Management Team
13 Management Team Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Mr. Rameshbhai Mr. Vishal Domadia Mr. Vikas Agarwal Mr. Bhupendra Varasada Mr. Hitesh Patel Ravajibhai Talavia Chief Executive Officer Chief Financial Officer Head of Operations Vice President – Ma
Slide 14: Inside this section
Inside this section Quarterly Performance Introduction Unique Business 02 07 14-29 Highlights to Dharmaj Model Positioning Key Annual Financial 30 32 Takeaways Highlights
Slide 15: Presence across The Value Chain
15 Presence across The Value Chain Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Active Ingredients Formulations Marketing: Manufacturing Manufacturing B2C & B2B 8,000 TPA Capacity 25,500 TPA Capacity B2C: Growing pan-India distribution on-stream since January 2
Slide 16: Business Model: Pursuing Growth on all Fronts
16 Business Model: Pursuing Growth on all Fronts Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 SIZE REVENUE CONTRIBUTION GROWTH TREND Formulations Branded Branded ₹1,928 Mn 20% Formul ati ons 5Y Revenue 25% Revenue CAGR Formulations Institutional D omestic Domes
Slide 17: Branded Formulations (1/6)
17 Branded Formulations (1/6) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Distribution built in last 10 years Business strategy 17,000+ 5,250+ Retail Dealers & Entering 2 new states on an average touchpoints Distributors Competitive aggression in pricing 1 eac
Slide 18: Branded Formulations (2/6)
18 Branded Formulations (2/6) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Growing Thrust On Advertisement & Sales Promotion Expenditure (₹ Mn) Aggressive demand generation & brand building A d ver ti sem en t E xp end i tu re Sa les Pr o m o tio n Ex pe nd it
Slide 19: Branded Formulations (3/6)
19 Branded Formulations (3/6) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Robust brand portfolio 134+ 418+ Recent Product Top Selling Products SKUs Additions Brands New products, combinations, and brand launches to maintain overall profitability of the portfol
Slide 20: Branded Formulations (4/6)
20 Branded Formulations (4/6) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Future Focus Areas Strengthening position Clustered expansion is existing markets • Establishing ourselves amongst top 5 Gujarat | Madhya Pradesh | branded players (by sales) in Gujarat
Slide 21: Branded Formulations (5/6)
21 Branded Formulations (5/6) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Leveraging technology to strengthen business: 1 2 3 4 • Robust ERP systems All key Completely digital • Key features of recently • Credit Notes processes have interaction with upgraded D
Slide 22: Institutional Business (1/3)
22 Institutional Business (1/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Domestic Formulation Sales Trend (₹ Mn) 37% 5Y CAGR Business Strategy Marquee clients 5,056 4,275 Institutional formulations business is the 1 biggest revenue vertical for the Company
Slide 23: Institutional Business (2/3)
23 Institutional Business (2/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Our formulations product portfolio Insecticide Herbicides Fungicides Micro-Fer tilizers Plant Growth Regulator • Fipronil 40% + Imidacloprid • Bispyribac Sodium 10% SC • Azoxystrobin 1
Slide 24: Institutional Business (3/3)
24 Institutional Business (3/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Currently exporting in Future focus areas 38 countries Plans to Domestic Institutional expand in more countries Backward integration into active ingredients to strengthen cost-competit
Slide 25: Active Ingredients (1/3)
25 Active Ingredients (1/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Forayed into Technicals 3 separate production blocks: Manufacturing Capacity Captive Consumption vs. Process Optimisations & Intermediates manufacturing through • Multi-purpose (MPP) techn
Slide 26: Active Ingredients (2/3)
26 Active Ingredients (2/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Status: Commissioned on 22nd January 2024 Land Size ~37,000 M Sq.Mt. 1 2 4 B U 3 R R R&D & ADMIN BLOCK B PRODUCTION BLOCKS (1-4) B BOILER PLANT W M MULTI EFFECT EVAPORATOR (MEE) G U UTILIT
Slide 27: Active Ingredients (3/3)
27 Active Ingredients (3/3) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Plant Capabilities Chemistry Capabilities Reaction Capabilities • Chlorination Chemistry • Batch Reaction • Alkylation Capabilities • Chain Reaction • Friedel Crafts • Continuous Process R
Slide 28: Formulation Manufacturing Facility
28 Formulation Manufacturing Facility Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 25,500 MT Manufacturing Capacity Fully integrated Certification formulation facility s 51% 9001:2015 14001:2015 17025:2017 45001:2018 Blended Capacity Utilisation (FY25) Formulat
Slide 29: Inside this section
Inside this section Quarterly Performance Introduction Unique Business 02 07 14 Highlights to Dharmaj Model Positioning Key Annual Financial 30-31 32 Takeaways Highlights
Slide 30: Key Takeaways
30 Key Takeaways Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Keep up the pace of Leverage potential Build export Targeting new set of Make a sucessful growth as witnessed of newly entered institutional business opportunities with entry into active in past: dou
Slide 31: Inside this section
Inside this section Quarterly Performance Introduction Unique Business 02 07-13 14-29 Highlights to Dharmaj Model Positioning Key Annual Financial 30 32-37 Takeaways Highlights
Slide 32: Key Performance Indicators
32 Key Performance Indicators Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 Revenue from Operations EBITDA & EBITDA Margin Cash Conversion Cycle (₹ Mn) (₹ Mn & %) (D ay s ) 11% 81 84 9,510 10% 10% 6,541 YOY YOY 67 Gro wt h Gro wt h 5,243 51 8% 8% 46 3,942 3,024
Slide 33: Profit & Loss Summary (5-year)
33 Profit & Loss Summary (5-year) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 (₹ Mn) PARTI CUL ARS F Y21 F Y22 F Y23 F Y24 F Y25 Revenue from Operations 3,024 3,942 5,243 6,541 9,510 Total Income 3,036 3,963 5,288 6,575 9,532 Gross Profit 695 856 930 1,348 2,0
Slide 34: Balance Sheet Summary (5-year)
34 Balance Sheet Summary (5-year) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 (₹ Mn) PARTI CUL ARS F Y21 F Y22 F Y23 F Y24 F Y25 Total Equity 563 849 3,152 3,594 3,944 Non-Current Liabilities 173 280 341 782 704 Borrowings 152 253 335 763 643 Current Liabiliti
Slide 35: Cash Flow Summary (5-year)
35 Cash Flow Summary (5-year) Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 (₹ Mn) PARTI CUL ARS F Y21 F Y22 F Y23 F Y24 F Y25 Cash from Operating Activities 129 164 (237) 74 395 Cash from Investing Activities (177) (239) (1,910) (620) (329) Cash from Financing
Slide 36: Shareholding & Market Statistics
36 Shareholding & Market Statistics Dh ar m aj C r op G uar d Li m i t ed | I nv e sto r Pr es en ta tio n Q 4 & F Y2 5 N SE SYMBO L DH ARMAJ BSE Scrip Code 543687 24.99% PUBLIC 70.40% PROMOTERS IPO Issue Price Band ₹216 to ₹237 Current Market Price ₹237 52 Week High/Low ₹390 / ₹165 Shares Outstandi
Slide 37: Safe Harbour
Safe Harbour This document which have been prepared by Dharmaj Crop Guard Limited (the “Company”), have been prepared solely for information purposes. This document has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no represent